Communications Minister
Malcolm Turnbull
says the government could consider changing laws that restrict the number of foreign parties that can invest in
Telstra
by the end of the year.

Both
Qantas Airways
and Telstra have foreign-ownership restrictions that prevent overseas funds and investors from owning more than a certain percentage of the company.

Telstra chief executive
David Thodey
recently told journalists at an Australia Israel Chamber of Commerce event in Sydney that while the issue was not of active concern he supported the removal of such caps on principle.

Mr Turnbull said he believed the issue was not an important one for Telstra but that the government was reviewing the issue as part of its push to reduce regulation.

“We are always sympathetic towards calls for less regulation and that is our bent," he said. “How do we translate that into concrete policy? Well, that’s where we’ve got to take the principle and put it through the government process before we come to a decision."

“We’re moving on this because the deregulation of telecommunications is a big one and we’re hoping to get to a position on most of this by the end of the year."

But Mr Turnbull added this was an issue that had to be discussed by the government before any changes occurred.

“Whether the sympathy leads to support or agreement is another question," he said. “These issues have got to be discussed and debated."